Pakistan decides to introduce cryptocurrency

The federal government has started reviewing proposals to introduce regulation of cryptocurrencies and blockchain technology in Pakistan, for which laws will soon be introduced.

According to local TV, the government will soon introduce the Virtual Assets Bill 2025 to frame laws regarding cryptocurrencies and blockchain technology.

According to sources, Senator Dr. Afnanullah Khan of the ruling party Pakistan Muslim League (N) presented a private member’s bill, which has been named “Virtual Assets Bill 2025”.

This proposed law will not only ensure the use, trading and regulation of cryptocurrencies and virtual assets, but will also introduce a digital currency backed by the Pakistani rupee, which will have legal status as per the rules of the State Bank.

The bill aims to legalize the issuance, trading, and use of virtual assets in Pakistan by establishing “Virtual Asset Zones” to promote financial stability, protect investors, and prevent illegal activities. , and will take necessary steps to legalize the digital rupee.

The sources said the bill provides standards and guidelines for registration and licensing of virtual currency exchanges, virtual asset providers, and virtual currency zones, besides mandating compliance with anti-money laundering and anti-terrorist financing laws. is given